ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

Period ended

30 September

FORTIS PHARMA CONSULTING LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 truetruetruetruetruetrue132021-10-01falseNo description of principal activity18truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05390470 2021-10-01 2022-09-30 05390470 2021-04-01 2021-09-30 05390470 2022-09-30 05390470 2021-09-30 05390470 2021-04-01 05390470 1 2021-10-01 2022-09-30 05390470 1 2021-04-01 2021-09-30 05390470 6 2021-10-01 2022-09-30 05390470 6 2021-04-01 2021-09-30 05390470 d:Director1 2021-10-01 2022-09-30 05390470 d:Director2 2021-10-01 2022-09-30 05390470 d:Director3 2021-10-01 2022-09-30 05390470 d:Director3 2022-09-30 05390470 d:RegisteredOffice 2021-10-01 2022-09-30 05390470 e:PlantMachinery 2021-10-01 2022-09-30 05390470 e:PlantMachinery 2022-09-30 05390470 e:PlantMachinery 2021-09-30 05390470 e:PlantMachinery e:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 05390470 e:MotorVehicles 2021-10-01 2022-09-30 05390470 e:ComputerEquipment 2021-10-01 2022-09-30 05390470 e:ComputerEquipment 2022-09-30 05390470 e:ComputerEquipment 2021-09-30 05390470 e:ComputerEquipment e:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 05390470 e:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 05390470 e:CurrentFinancialInstruments 2022-09-30 05390470 e:CurrentFinancialInstruments 2021-09-30 05390470 e:CurrentFinancialInstruments e:WithinOneYear 2022-09-30 05390470 e:CurrentFinancialInstruments e:WithinOneYear 2021-09-30 05390470 e:ReportableOperatingSegment1 2021-10-01 2022-09-30 05390470 e:ReportableOperatingSegment1 2021-04-01 2021-09-30 05390470 e:ReportableOperatingSegment2 2021-10-01 2022-09-30 05390470 e:ReportableOperatingSegment2 2021-04-01 2021-09-30 05390470 f:UnitedKingdom 2021-10-01 2022-09-30 05390470 f:UnitedKingdom 2021-04-01 2021-09-30 05390470 f:RestEuropeOutsideUK 2021-10-01 2022-09-30 05390470 f:RestEuropeOutsideUK 2021-04-01 2021-09-30 05390470 f:RestWorldOutsideUK 2021-10-01 2022-09-30 05390470 f:RestWorldOutsideUK 2021-04-01 2021-09-30 05390470 e:UKTax 2021-10-01 2022-09-30 05390470 e:UKTax 2021-04-01 2021-09-30 05390470 e:ShareCapital 2022-09-30 05390470 e:ShareCapital 2021-09-30 05390470 e:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 05390470 e:RetainedEarningsAccumulatedLosses 2022-09-30 05390470 e:RetainedEarningsAccumulatedLosses 2021-04-01 2021-09-30 05390470 e:RetainedEarningsAccumulatedLosses 2021-09-30 05390470 e:RetainedEarningsAccumulatedLosses 2021-04-01 05390470 e:AcceleratedTaxDepreciationDeferredTax 2022-09-30 05390470 e:AcceleratedTaxDepreciationDeferredTax 2021-09-30 05390470 e:TaxLossesCarry-forwardsDeferredTax 2022-09-30 05390470 e:TaxLossesCarry-forwardsDeferredTax 2021-09-30 05390470 d:OrdinaryShareClass1 2021-10-01 2022-09-30 05390470 d:OrdinaryShareClass1 2022-09-30 05390470 d:OrdinaryShareClass1 2021-09-30 05390470 d:FRS102 2021-10-01 2022-09-30 05390470 d:Audited 2021-10-01 2022-09-30 05390470 d:FullAccounts 2021-10-01 2022-09-30 05390470 d:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 05390470 e:Subsidiary1 2021-10-01 2022-09-30 05390470 e:Subsidiary1 1 2021-10-01 2022-09-30 05390470 2 2021-10-01 2022-09-30 05390470 6 2021-10-01 2022-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05390470

Fortis Pharma Consulting Limited

Annual Report and Financial Statements

For the Year Ended 30 September 2022

Fortis Pharma Consulting Limited

Company Information

Directors	D Chaffer
	A Medley


Registered number	05390470


Registered office	Ropewalks
	Newton Street
	Macclesfield
	United Kingdom
	SK11 6QJ


Independent auditors	Mazars LLP
	Chartered Accountants & Statutory Auditors
	One St. Peter's Square
	Manchester
	M2 3DE

Fortis Pharma Consulting Limited

Contents

	Page
Directors' Report	1 - 2
Independent Auditors' Report	3 - 6
Statement of Income and Retained Earnings	7
Balance Sheet	8
Notes to the Financial Statements	9 - 21

Fortis Pharma Consulting Limited

Directors' Report

For the Year Ended 30 September 2022

The directors present their report and the audited financial statements of Fortis Pharma Consulting Limited (the “Company”) for the year ended 30 September 2022.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

D Chaffer

A Medley

G Smith (resigned 1 September 2022)

Going concern

The financial statements have been prepared on a going concern basis. The following paragraphs set out the basis of which the directors have reached their conclusion.
The Company has net current assets of £3,418,254 (2021: £1,253,310) and net assets of £3,425,783 (2021: £1,264,697)
at 30 September 2022.
The group companies have confirmed their intention to provide sufficient financial support for at least 12 months from the date of approval of the financial statements to enable the Company to meet its financial obligations as and when they fall due without significant curtailment of operations.
Therefore, the directors believe it is appropriate to prepare the accounts to 30 September 2022 on a going concern basis and there will be no adverse effect on solvency for more than 12 months after the date of approval of the financial statements.

Page 1

Fortis Pharma Consulting Limited

Directors' Report (continued)

For the Year Ended 30 September 2022

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditor, Mazars LLP will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

A Medley

Director

Date: 9 June 2023

Page 2

Fortis Pharma Consulting Limited

Independent Auditors' Report to the Members of Fortis Pharma Consulting Limited

Opinion

We have audited the financial statements of Fortis Pharma Consulting Limited (the 'Company') for the year ended 30 September 2022, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 30 September 2022 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the "Auditors' responsibilities for the audit of the financial statements" section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Page 3

Fortis Pharma Consulting Limited

Independent Auditors' Report to the Members of Fortis Pharma Consulting Limited (continued)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 4

Fortis Pharma Consulting Limited

Independent Auditors' Report to the Members of Fortis Pharma Consulting Limited (continued)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation, anti-money laundering regulation.
To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

∙Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;

∙Inspecting correspondence, if any, with relevant licensing or regulatory authorities;

∙Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and

∙Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as: tax legislation, pension legislation, the Companies Act 2006.
In addition, we evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, revenue recognition (which we pinpointed to the cut-off assertion), and significant one-off or unusual transactions.
Our audit procedures in relation to fraud included but were not limited to:

∙Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;

∙Gaining an understanding of the internal controls established to mitigate risks related to fraud;

∙Discussing amongst the engagement team the risks of fraud; and

∙Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 5

Fortis Pharma Consulting Limited

Independent Auditors' Report to the Members of Fortis Pharma Consulting Limited (continued)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Martin (Senior statutory auditor)

for and on behalf of Mazars LLP
Chartered Accountants & Statutory Auditors
One St. Peter's Square
Manchester
M2 3DE
Date: 16 June 2023
16 June 2023

Mazars LLP

Page 6

Fortis Pharma Consulting Limited

Statement of Income and Retained Earnings

For the Year Ended 30 September 2022

	30 September	Period ended 30 September
	2022	2021
Note	£	£


Turnover	4	4,245,114	2,069,359
Cost of sales		(1,597,401)	(301,832)
Gross profit		2,647,713	1,767,527
Administrative expenses		(601,423)	(558,124)
Other operating income		19	98
Operating profit	5	2,046,309	1,209,501
Interest receivable and similar income		8	37
Interest payable and similar expenses		-	(213)
Profit before tax		2,046,317	1,209,325
Tax on profit	9	114,769	(230,286)
Profit after tax		2,161,086	979,039



Retained earnings at the beginning of the year/period		1,264,695	1,941,736
		1,264,695	1,941,736
Profit for the year/period		2,161,086	979,039
Dividends declared and paid	10	-	(1,656,080)
Retained earnings at the end of the year/period		3,425,781	1,264,695

The notes on pages 9 to 21 form part of these financial statements.

Page 7

Fortis Pharma Consulting Limited

Registered number: 05390470

Balance Sheet

As at 30 September 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	11		7,874		13,519
Investments	12		10		10
			7,884		13,529
Current assets
Debtors: amounts falling due within one year	13	3,039,383		1,250,082
Cash at bank and in hand	14	1,116,922		693,805
		4,156,305		1,943,887
Creditors: amounts falling due within one year	15	(738,051)		(690,577)
Net current assets			3,418,254		1,253,310
Total assets less current liabilities			3,426,138		1,266,839
Provisions for liabilities
Deferred tax	16	(355)		(2,142)
			(355)		(2,142)
Net assets			3,425,783		1,264,697

Capital and reserves
Called up share capital	17	2	2
Profit and loss account	18	3,425,781	1,264,695
		3,425,783	1,264,697

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A Medley

Director

Date: 9 June 2023

The notes on pages 9 to 21 form part of these financial statements.

Page 8

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

1.	General information

Fortis Pharma Consulting Limited is a private company limited by share capital. The company is incorporated in England, company number 05390470. The address of the registered office and principal place of business is Ropewalks, Newton Street, Macclesfield, United Kingdom, SK11 6QJ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Bioscript Holdings Limited as at 30 September 2022 and these financial statements may be obtained from Ropewalks, Newton Street, Macclesfield, United Kingdom, England, SK11 6QJ.

2.3

Exemption from preparing consolidated financial statements

The Company is a parent Company that is also a subsidiary included in the consolidated financial statements of its immediate parent undertaking established under the law of an EEA state and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
The Company is included in the consolidation of Bioscript Holdings Limited and the consolidated financial statements of Bioscript Holdings Limited may be obtained from Ropewalks, Newton Street, Macclesfield, United Kingdom, SK11 6QJ or Companies House.

Page 9

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

2.Accounting policies (continued)

2.4

Going concern

The financial statements have been prepared on a going concern basis. The following paragraphs set out the basis of which the directors have reached their conclusion.
The Company has net current assets of £3,418,254 (2021: £1,253,310) and net assets of £3,425,783 (2021:
£1,264,697) at 30 September 2022.
The group companies have confirmed their intention to provide sufficient financial support for at least 12 months from the date of approval of the financial statements to enable the Company to meet its financial obligations as and when they fall due without significant curtailment of operations.
Therefore, the directors believe it is appropriate to prepare the accounts to 30 September 2022 on a going concern basis and there will be no adverse effect on solvency for more than 12 months after the date of approval of the financial statements.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 10

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

2.Accounting policies (continued)

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.10

Current and deferred taxation

The tax expense for the Year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 11

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

2.Accounting policies (continued)

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery	-	33%	Straight-line
Motor vehicles	-	20%	Straight-line
Computer equipment	-	33%	Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.13

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.14

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.15

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 12

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

2.Accounting policies (continued)

2.16

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statementes requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements have had the most significant effect on the amounts recognised in the financial statements.
Revenue recognition in relation to amounts recoverable on contracts
In assessing the correct amount of revenue to be recognised and the value of contract balances, the directors make the best estimate of progress towards the project deliverables in order to assess the percentage complete in each case.

Page 13

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

Medical communication fees	4,056,067	1,903,474
Recharges of costs	189,047	165,885
	4,245,114	2,069,359

Analysis of turnover by country of destination:

					30 September	Period ended 30 September
					2022	2021
					£	£

United Kingdom	501,171	386,657
Rest of Europe	3,438,782	1,610,551
Rest of the World	305,161	72,151
	4,245,114	2,069,359

Depreciation of tangible fixed assets	5,645	6,727
Exchange differences	(19)	(98)
Defined contribution pension costs	34,397	13,194

Page 14

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

Fees payable to the Company's auditor and its associates for the audit of the Company's annual financial statements

14,000

Current year auditors’ remuneration of £11,000 relating to the Company was borne by another group company, Bioscript Limited.

Wages and salaries	986,033	394,160
Social security costs	122,420	34,384
Cost of defined contribution scheme	34,397	13,194
	1,142,850	441,738

The average monthly number of employees, including the directors, during the year was as follows:
	30 September 2022	Period ended 30 September 2021
	£	£


Delivery	15	12
Directors	3	1
	18	13

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Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

Directors' emoluments	108,312	30,017
	108,312	30,017

The highest paid director received total remuneration including pension contributions of £108,312 in the year (2021: £30,017).
The value of the company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £Nil (2021: £Nil).

Corporation tax
Current tax on profits for the year/period	-	245,171
Adjustments in respect of previous periods	(112,982)	-

Total current tax	(112,982)	245,171

Deferred tax
Origination and reversal of timing differences	(1,358)	(15,399)
Changes to tax rates	(429)	514
Total deferred tax	(1,787)	(14,885)


	Taxation on (loss)/profit on ordinary activities	(114,769)	230,286

Page 16

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

9.Taxation (continued)

Profit on ordinary activities before tax

2,046,317

1,209,325

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2021: 19%)	388,800	229,772
Effects of:
Expenses not deductible for tax purposes	58	-
Other differences leading to a (decrease)/increase in tax charge	(429)	514
Group relief	(390,216)	-
Adjustments in respect of previous periods	(112,982)	-
Total tax (credit)/charge for the year/period	(114,769)	230,286

Page 17

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

10.	Dividends
		2022	2021
		£	£

Equity dividends on ordinary shares

1,656,080

11.	Tangible fixed assets

	Plant and machinery	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 October 2021	6,346	18,644	24,990
At 30 September 2022	6,346	18,644	24,990
Depreciation
At 1 October 2021	2,500	8,971	11,471
Charge for the year on owned assets	1,671	3,974	5,645
At 30 September 2022	4,171	12,945	17,116
Net book value
At 30 September 2022	2,175	5,699	7,874
At 30 September 2021	3,846	9,673	13,519

Page 18

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

12.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 October 2021	10
	At 30 September 2022	10

Subsidiary undertaking
The following was a subsidiary undertaking of the Company:
Name	Registered office	Class of shares	Holding

Fortis Digital Ltd

Ropewalks, Newton Street, Macclesfield, United Kingdom, SK11 6QJ

Ordinary

100%

13.

Debtors

					2022	2021
					£	£


Trade debtors	773,329	704,067
Amounts by group undertakings	1,817,345	70,773
Other debtors	21,000	82,611
Prepayments and accrued income	427,709	392,631
	3,039,383	1,250,082

14.	Cash
		2022	2021
		£	£

	Cash at bank and in hand	1,116,922	693,805

Page 19

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

15.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	25,446	83,408
Amounts owed to group undertakings	71,646	80,023
Corporation tax	131,995	245,171
Other taxation and social security	29,541	26,491
Other creditors	12,672	14,130
Accruals and deferred income	466,751	241,354
	738,051	690,577

The Group has given a guarantee in respect of a loan advance to a Group subsidiary. The maximum potential
liability to the Company as at 30 September 2022 amounted to £22,200,000 (2021: £10,000,000).

16.	Deferred taxation

	2022	2021
	£	£

At beginning of year/period	(2,142)	(17,027)
Credit to profit or loss	1,787	14,885
At end of year/period	(355)	(2,142)

The provision for deferred taxation is made up as follows:
	2022	2021
	£	£

Accelerated capital allowances	(1,969)	(3,380)
Short term timing difference	1,614	1,238
	(355)	(2,142)

17.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

2 (2021:2) Ordinary shares of £1.00 each	2	2

Page 20

Fortis Pharma Consulting Limited

Notes to the Financial Statements

For the Year Ended 30 September 2022

18.

Reserves

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

19.	Pension commitments

The Company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in independently administered funds.
The pension cost charge represents contributions payable by the Company to the fund and amounted to £34,397
(2021: £13,194). Contributions totalling £6,456 (2021: £4,950) were payable to the funds at the balance sheet date
and are included in other creditors.

20.

Related party transactions

As at 30 September 2022, the directors have chosen not to disclose transactions entered with other companies wholly owned within group as permitted under FRS102 paragraph 33.1A.
As at 30 September 2021, £62,000 was due to the Company from a member of key management personnel. This balance was in relation to the proceeds from the sale of a company vehicle which resulted in a loss on disposal of £11,996.

21.	Controlling party

The immediate parent company is Azimuth Pharma Limited, a company registered in England and Wales, company number 07916512, which owns 100% of the called up share capital.
The ultimate parent company is Bioscript Holdings Limited, a company registered in England and Wales, company number 13203898.

Page 21